Business Editors

FOSTER CITY, Calif.--(BUSINESS WIRE)--Nov. 13, 2002

Inktomi Corp. (Nasdaq:INKT) today announced it will focus exclusively on its Web search business, leveraging its proven leadership in OEM Web search and paid inclusion services to capture a greater share of the growing Internet search market. In relation to this move, Inktomi and Verity, Inc. (Nasdaq:VRTY) announced a definitive agreement for the sale of the Inktomi enterprise search software assets to Verity for a price of $25 million in cash, together with Verity's assumption of certain liabilities (see separate Verity-Inktomi press release for more information). With the sale of the enterprise search business, Inktomi plans to bolster its presence in Web search and concentrate efforts on opportunities in this growing market. Upon the completion of the transaction, Inktomi expects to be cash flow and EBITDA positive. The transaction is currently scheduled to close within the next 30 to 60 days, subject to the satisfaction of customary closing conditions.

"The sale of our enterprise search business to Verity puts Inktomi in a much stronger financial position while enabling the company to apply all its resources on a growing market in which it has leading technology, distribution and marketing services," said David Peterschmidt, president and CEO of Inktomi. "In addition, Verity will provide continued product development and support, and we are pleased to offer our more than 2,500 enterprise search customers a migration path to advanced offerings from Verity, the industry leader in enterprise search."

According to Salomon Smith Barney, Internet search and related services such as paid inclusion is a $1.4 billion market with the potential to grow approximately 30 to 35 percent per year to 2004, and 20 to 25 percent per year to 2008. Inktomi was founded as a Web search provider, and with leading technology, distribution and search marketing solutions such as paid inclusion services, is well positioned to capture growth opportunities in this market.

Inktomi(R) Web Search delivers relevance in the top tier of all Web search technology providers and is the leader in content freshness today. The company plans to announce significant enhancements to Inktomi Web Search next week that will further increase relevance and freshness, as well as offer industry-first technologies for users to search the Web. Inktomi offers powerful Web search technology that can be customized to create a unique end-user experience, helping its portal partners to drive and retain traffic on their sites. Inktomi Web Search is used by top portals and destination sites including MSN, the most trafficked site on the Internet.

Additionally, Inktomi pioneered the paid inclusion model and its marketing services provide Web sites with the ability to strengthen their presence on the Internet by ensuring that deep content is included and frequently updated in the Inktomi Web Search index. Inktomi has more than 100,000 paid inclusion customers and recently announced agreements with Amazon.com, eBay and Walmart.com to expand their participation in the program.

About Inktomi

Based in Foster City, Calif., Inktomi is a leading provider of Web search and enterprise information retrieval products. The company that pioneered Web search, Inktomi is the market-leading OEM provider of search and services such as paid inclusion programs for leading consumer portals, Internet destinations and e-commerce sites worldwide. On Nov. 13, 2002, Inktomi announced a definitive agreement to sell its enterprise search business to Verity, Inc. For more information, visit http://www.inktomi.com.

This press release contains forward-looking statements regarding Inktomi's future financial and operating results, the expected date of closing the transaction and future product release dates. These statements are based on current expectations and are subject to a number of risks and uncertainties. Actual results could differ materially from those projected in any forward-looking statements. The specific statements regarding future EBITDA and cash results are forward looking and are subject to Inktomi maintaining or obtaining Web search services contracts with major portal customers. Factors that could affect our financial and operating results and other forward looking statements contained in this release include the potential failure to satisfy the closing conditions for the transaction; risks of costs and delays related to the transaction; need to improve our sales and distribution capabilities, internally and through alliances; substantial competition; risks related to the consolidation of operations and reductions in force; dependency on future revenue from a single business unit with limited service offerings; the rapidly changing business environment; changing buying patterns of our customers and potential customers; need to develop, acquire and release new products and technologies; and risks associated with acquisitions, dispositions, strategic alliances, international operations and product release dates. For more information and additional risk factors regarding Inktomi generally see "Factors Affecting Operating Results" contained in our Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 14, 2002 and in other reports filed by Inktomi with the Securities and Exchange Commission. Inktomi expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any statements to reflect any change in Inktomi's expectations or any change of events, conditions or circumstances on which any such statements are based.

Note to Editors: Inktomi, and the tri-colored cube logo are trademarks or registered trademarks of Inktomi Corporation in the United States and other countries. All other trademarks and company names referenced herein are the property of their respective holders.